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THE TRUTH ABOUT: 2 - Caught on Camera

Here are the big stories from Karnataka today

Karnataka Today newsletter, your guide from The Hindu on the major news stories to follow today.

The Hindu

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident in Mangaluru

According to I-T officials, bank officials also could not establish through documents the purpose for which the cash had been withdrawn from the vault.

The Hindu

Hyderabad police freeze account as it registers ₹8 crore transaction

Police in Hyderabad froze an account at IDBI Bank after a ₹8 crore RTGS transfer from one company to another. The action was taken in adherence to instructions of Chief Electoral Officer.

The Hindu

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read the most diverse news in one place.

Economic offences are a modern threat to development of the country: Madras High Court

Observing that economic offences were a modern threat to the development of the country, the Madras High Court has refused to allow businessman ‘Aircel’ C. Sivasankaran to visit Seychelles as well as France as he was facing multiple cases that were being investigated by the Central Bureau of Investigation (CBI),…

The Hindu

Madhya Pradesh: ED starts money laundering probe against BP Food Products

BHOPAL: Enforcement directorate has started a money laundering probe against the directors of Gwalior-based BP Food Products Private Limited in connection with a fraud case.

The Times of India

IDBI Bank logs best-ever quarterly net income at Rs 828 crore

MUMBAI: IDBI Bank has come out with best-ever quarterly numbers on Friday, logging in a 46 percent growth in net income at Rs 828 crore for the September quarter.

The Times of India

Indian govt seeks $7.7 billion value for IDBI Bank in stake sale

NEW DELHI: India is pushing for a valuation of around 640 billion rupees ($7.7 billion) for state-owned IDBI Bank Ltd in what could be the biggest sale of the government’s stake in a lender in decades, according to a person familiar with the matter.

The Times of India

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IDBI Bank privatisation: LIC to recover its investment by time of sale

NEW DELHI: State-owned insurance behemoth LIC is expected to recover its Rs 21,624 crore investment it had made in IDBI Bank as share prices are likely to rebound to 2019 levels by the time the lender is privatised, an official said.

The Times of India

Financial bids for IDBI Bank likely to be invited by March, sale process to conclude next fiscal

NEW DELHI: The financial bids for IDBI Bank privatisation is likely to be invited by March and the conclusion of the sale process is expected in the next financial year, officials said.

The Times of India

Govt invites bids for IDBI Bank privatisation; Centre, LIC to sell 60.72%

NEW DELHI: The government on Friday invited bids from investors for privatising IDBI Bank by selling a total of 60.72 per cent stake in the bank.

The Times of India

Govt mulls selling at least 51% stake in IDBI Bank

NEW DELHI: The government is considering selling at least 51% of state-backed IDBI Bank Ltd, according to people with knowledge of the matter.

The Times of India

Smaller banks follow big peers, hike FD rates

MUMBAI: IDBI Bank has said it will offer a new 500-day deposit that offers 6.7% interest as part of the Amrit Mahotsav (75 years of independence) scheme. The bank has also hiked interest rates on term deposits across various tenors from August 22. The highest rate offered under its regular…

The Times of India

NCLT allows IDBI Bank’s plea to replace liquidator of Jeypore Sugar

‘The liquidator does not possess valid authorisation’

The Hindu

PNB, IDBI Bank get govt nominee directors on their boards

NEW DELHI: The government has nominated new directors on the boards of Punjab National Bank (PNB) and IDBI Bank, following the cessation of the terms of incumbent directors.

The Times of India

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The Times of India

RBI imposes penalties on Axis, IDBI Bank

MUMBAI: Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 93 lakh on Axis Bank for various violations, including those related to KYC guidelines.

The Hindu

Privatisation of IDBI Bank | Government holding roadshows to assess interest of investors, says MoS for Finance Bhagwat Karad

The government and the LIC together own more than 94% equity of IDBI Bank

The Times of India

LIC wants to remain IDBI Bank shareholder for bancassurance gain

NEW DELHI: IPO-bound Life Insurance Corporation (LIC) on Monday said it would like to retain some stake in IDBI Bank so that the insurer continues to reap the benefits of the bancassurance channel.

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